Search Results for keywords:"fair and orderly markets"

Found 3 results

Search Results: keywords:"fair and orderly markets"

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  • 2025-01965 — Submission for OMB Review; Comment Request; Extension: Rule 303 of Regulation ATS
    Type:Notice
    Citation:90 FR 8544
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) is seeking approval from the Office of Management and Budget (OMB) to extend an existing requirement for record-keeping under Rule 303 of Regulation ATS, which governs alternative trading systems (ATSs). Regulation ATS requires ATSs that register as broker-dealers to maintain certain records to ensure regulatory compliance. These records help regulatory bodies monitor ATSs and promote fair and orderly markets. The SEC estimates that ATSs will spend an average of 1,607 hours annually maintaining these records. The public can comment on this request by emailing or visiting a provided website by March 3, 2025.

    Simple Explanation

    The SEC wants to keep checking on special places where people buy and sell stocks, called ATSs, to make sure everything is fair. They want ATSs to spend some time each year keeping papers and information organized, and they're asking people to share their thoughts about this plan by March 3, 2025.

  • 2020-29131 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Add Commentary .07 to Rule 7.35A To Provide That, for a Temporary Period, the Exchange Will Permit DMMs Limited-Entry to the Trading Floor or Remote Access to Floor-Based System for Certain Auctions
    Type:Notice
    Citation:86 FR 335
    Reading Time:about 15 minutes

    The New York Stock Exchange (NYSE) filed a temporary rule change with the Securities and Exchange Commission (SEC) to accommodate Designated Market Makers (DMMs) due to COVID-19 restrictions. The change allows DMMs limited access to the trading floor or remote access to NYSE systems until either the trading floor fully reopens or April 30, 2021. This adjustment is meant to support efficient trading during significant pricing events like a corporate action or a Direct Listing Auction, ensuring fair and orderly markets despite the temporary closure of the physical trading floor. These measures are intended to maintain transparency and allow issuers to continue listing via Direct Listings while operations are remote.

    Simple Explanation

    The New York Stock Exchange is letting special traders called Designated Market Makers do their work from home or have a little bit of time on the trading floor because of COVID-19. This change is temporary, just to make sure everything runs smoothly until things get back to normal or until the end of April 2021.

  • 2021-03088 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Amendment No. 1 and Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rule 7.35C
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    Type:Notice
    Citation:86 FR 9978
    Reading Time:about 40 minutes

    The Securities and Exchange Commission (SEC) is reviewing and seeking public feedback on a proposed rule change by the New York Stock Exchange (NYSE). This proposal aims to amend Rule 7.35C to allow NYSE to facilitate a Trading Halt Auction if a security doesn't reopen by 3:30 p.m. after a market-wide circuit breaker halt, known as an "MWCB Halt." The proposal includes changes such as widening the price range for these reopening auctions and allowing certain market maker interests to remain active. The SEC is also considering whether these changes meet the legal standards to ensure fair and orderly markets and is inviting comments from the public by March 10, 2021.

    Simple Explanation

    The big agency in charge of keeping the stock market fair, called the SEC, is checking on some new rules the New York Stock Exchange wants to try out. These rules are about what to do when the market has to take a break because everything's going a little crazy, like making sure they can start trading again before it gets too late in the day.